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Community Developments Investments (November 2013)

Banner for Rural Development Ezine

A Look Inside…
We focus on initiatives that have allowed banks to expand their financing for small business development in rural areas across America. We highlight these enterprising examples because rural communities offer opportunities and resources that you will not want to overlook.

  Aerial view of farmland

Appalachian Regional Commission: Improving Economies and Lives in 13 States
This federal-state partnership has helped significantly reduce the number of high-poverty counties in Appalachia by developing strategies for addressing the region’s capital and credit challenges.

Appalachian Regional Commission Success Stories

  Map of Appalachian counties
Promoting Economic Development  With the SBA’s Small/Rural Lender Advantage Initiative
A bank executive tells how his company has served its predominantly rural communities using a U.S. Small Business Administration initiative that focuses on small-scale loans and is designed for banks that make fewer than 20 such loans a year.
  Crossroads Coffee owner Daniel Gentz, left, brought high-end coffee to rural Carterville, Ill., with financial help from Peoples National Bank (PNB) and the SBA’s Small/Rural Lender Advantage initiative. At right is Les Lange of PNB.
Associated Bank and the USDA: Helping a Company on the Verge of Recovery to Soar
After being turned down for a loan by several banks, a rural manufacturer got the financing it needed to stabilize and grow with a loan package put together by a bank working with a U.S. Department of Agriculture program.
  Steve Pleshek works with Mod Tech’s computer-controlled machining equipment. Mod Tech was able to expand with the help of a loan package put together by Associated Bank in partnership with a USDA loan program, and the company now employs 70 people.

Executing High-Impact NMTC Deals in Rural Communities
Wells Fargo describes how it uses the New Markets Tax Credit Program as an important tool for investing in operating businesses and real estate projects in low-income areas.

Deal Highlight: Schulz Xtruded Products

  In recent years, Wells Fargo has invested in environmentally focused projects in rural areas, such as this wind farm in Grayland, Wash.
Critical Bank–Nonprofit Partnerships for Expanding Rural Lending
Northern Initiatives shows how partnering with a community development financial institution can increase underwriting flexibility to help bankers say “yes” to more borrowers.
  With a loan from Northern Initiatives, Kim Smith was able to purchase and restore a building for her flower shop in Marquette, Mich.
The Community Reinvestment Act and Rural Economic Development and Finance
We outline the types of bank activities that could receive Community Reinvestment Act consideration under current rules.
  Image of buildings in rural town
This Just In...
The OCC’s four districts report on new opportunities for banks.
  Map of OCC Districts